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IL HB0401

Bill

Official Source

Status

Introduced

1/29/2021

Primary Sponsor

Martin Moylan

Click for details

Origin

House of Representatives

102nd General Assembly

AI Summary

  • Amends the Cannabis Regulation and Tax Act to expand conflict of interest restrictions for certain individuals
  • Removes the exemption that previously allowed individuals to hold a passive interest in a publicly traded cannabis company
  • Makes individuals ineligible to accept employment at or hold financial/voting interest in any cannabis business if they or their spouse/immediate family member was a General Assembly member or state cannabis regulator within 2 years of the Act's effective date
  • Restricts eligibility only for those who personally and substantially participated in awarding cannabis licenses under the Act
  • Violations are prosecuted under the State Officials and Employees Ethics Act

Legislative Description

CANNABIS-CONFLICT OF INTEREST

Last Action

Rule 19(a) / Re-referred to Rules Committee

3/27/2021

Committee Referrals

Rules3/27/2021
Ethics & Elections3/2/2021
Rules2/8/2021

Full Bill Text

No bill text available